Farm markets seen mixed Wednesday
On Wednesday, the CME Group's corn, and wheat markets are expected to start mostly lower, soybeans higher.
The early calls for the commodities on Wednesday, November 20, 2013, are mostly lower. Corn is seen opening 1-2 cents lower, soybeans 1-2 cents higher, and wheat 1-2 cents lower.
In overnight trading, the Dec. corn futures contract traded 1 3/4 cents lower at $4.16 per bushel. The January soybean futures traded 1 1/2 cents higher at $12.77. The Dec. wheat futures contract traded 1/4 of a cent lower at $6.50. For Dec. soybean meal futures, the contract traded $1.10 per short ton lower at $407.80; Dec. soybean oil futures traded $0.34 higher at $40.33.
The outside markets are unfavorable for Wednesday's grain trade. The real factors driving the calls will be the slightly lower overnight markets.